Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 10.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,848,133 shares of the company's stock after purchasing an additional 169,746 shares during the period. Geode Capital Management LLC owned 1.99% of Crinetics Pharmaceuticals worth $94,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Calamos Advisors LLC raised its position in shares of Crinetics Pharmaceuticals by 46.0% in the 2nd quarter. Calamos Advisors LLC now owns 42,336 shares of the company's stock worth $1,896,000 after acquiring an additional 13,336 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Crinetics Pharmaceuticals by 30.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 386,450 shares of the company's stock worth $17,309,000 after acquiring an additional 89,972 shares during the last quarter. Legato Capital Management LLC lifted its position in Crinetics Pharmaceuticals by 92.5% during the 2nd quarter. Legato Capital Management LLC now owns 19,015 shares of the company's stock worth $852,000 after acquiring an additional 9,135 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Crinetics Pharmaceuticals by 32.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,135 shares of the company's stock worth $544,000 after purchasing an additional 2,952 shares during the period. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 16.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 19,995 shares of the company's stock valued at $896,000 after acquiring an additional 2,780 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday. HC Wainwright lifted their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Finally, Citigroup raised their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $70.82.

Insiders Place Their Bets

In other news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now owns 28,507 shares of the company's stock, valued at approximately $1,557,337.41. The trade was a 33.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeff E. Knight sold 501 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the completion of the transaction, the chief operating officer now owns 51,653 shares in the company, valued at $2,919,427.56. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,876 shares of company stock valued at $2,091,373. Insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX traded up $0.86 during mid-day trading on Friday, hitting $53.60. The stock had a trading volume of 1,940,449 shares, compared to its average volume of 780,930. Crinetics Pharmaceuticals, Inc. has a twelve month low of $33.67 and a twelve month high of $62.53. The firm's 50 day moving average is $57.03 and its 200 day moving average is $52.59. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of -14.37 and a beta of 0.60.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the business posted ($1.01) EPS. As a group, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.